Trinity Churches c? GROWING FAITH PROCLAIMING HOPE LIVING THE LOVE OF JESUS Annual Report and Financial Statements of the Parochial Church Council of Meole Brace For the year ended 31st December 2023 Charity registration number: 1135066
The Parochial Church Council of Hol Trinit Meole Brace Shrewsbu Page 3 Trustees, Annual Report Page 10 Independent Examiners Report Page11 Statement of Financial Activities Page 12 Balance Sheet Page 13 Notes to the Financial Statements Page 2 VAfTH DHOPE
Trustees, Annual Re ort of the Parochial Church Council for the ear ended 31st December 2023 About us We are a thriving community of Christians in Shrewsbury made up of Holy Trinity Meole Brace, Christ the King Radbrook and The Church in the Meet Place. We are a Church of England parish with a big heart for people and an even bigger heart for God. The correspondence address is The Church Offi, The Trinity Centre, Meole Brace, Shrewsbury SY3 9HF. The Parochial Church Council {PCC} is a registered charily No. 1135066 Aim and Pur ose Holy Trinity Parochial Church Council IPCC) has the responsibility of cooperating with the Incumbent, the Revd Phil Cansdale. in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. Structure Governance and Mana ement The PCC is a Body Corporate established by the Church of England (PCC Powers Measure 1956, and the Church Representation Rules 20061 and is a Charity registered with the Charity Commission. The PCC is governed by the Parochial Church Council Powers Measure (1956) as nd amended that came into effect on 2 January 1957. and the Church Representation Rules. The Parish contains separate Districts for Holy Trinity and Christ the King, each with their own District Church Councils {DCCs). The PCC comprises the combined membership of the two DCCS. The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and to participate in the election of members of the PCCIDCC. The PCC members are responsible for making decisions on all matters of general concern and importance in the parish, and for all financial matters. The PCC is also specifically responsible for the development and maintenance of the Trinity Centre at the heart of Meole Brace, as well as the Glebe Field and our property at 47 Imlderley Crescent. Glebe Field - valued at £25,500 in March 2019 @ £15,000 per acre. As this is agricultural land the PCC do not feel a further valuation is necessary at present. 47 Wilderley Cresnt- currently valued at £213,000 {2022." £220,000), based on an online Zoopla vaSuation. PCC members who have setved from l January 2023 to the date this report is approved are.. Vicar.. Associate Vicar Non stipendiary Associate Minister Non stipendiary Associate Minister Ordained Minister (with PTO) Phil Cansdale (Chairl Fiona Iddon ' Valerie Pitt Charles Ruxlon Nick Webb {Co-Opted 21st of May 2023) Readers Gareth Evans Shirley Stevens Parish Wardens.. Jenny Surt" Jo Simpson (till 21. May 2023) Page 3 FArn4 DHOPE laLO¥E
Anne Hasnip" (from 21" May 2023) District Wardens Erica Staples . {from 21 May 2023> Vacant Deanery Synod Representatives Sophie Black Carol Booles (from 21. May 20231 Amy Ingham Farrow Steve Jone5 (PCC Secretary) Sylvia Leake (from 2151 May 2023) Adrian Lowe Andrew Prichard {till 21. May 2023) Rob Surl Rachel Woods (from 21st May 2023) Catherine Cullup-smith (untll 21. May 20231 DCC Elecled members: Olwen Abbott Paul Bell (Lay vice-chair) Nikki Jones (from 21, May 20231 David Latcham (till 21. May 2023) Dylan Mathias (from 21" May 2023} John Mowbray . (Co-opted Hon Treasurer) Mick Preston (from 21. May 2023) Sian Squire (till 21. May 20231 Martin Wilhington Kevin Pilsbury ' {Co-opled Operations Manager) Officers of the PCC.. Helen Hinton (Clerk to the meeting) Shannon Commins (Assistant Clerk) (lill 20 Jan 2023) The PCC appoints annually a Standing and Finance Committee which also lakes responsibility for the oversight of the PCC finances. The PCC also appoints the Trinity Centre Management Committee. the Congregational Leadership Teams, the Stewardship team and the Mission, Relief and Development Committee. All Committees and teams are accountable to the PCC and report to il on a regular basis. The PCC met six times over the year. The Standing and Finance Committee also met six times. Insurers Ecclesiastical Insuran Group Registered office Beaufort House, Brunswick Road, GIOuster GL1 1JZ (till 30th of April 2023). Trinitas Church Insurance Services (trading name of Arthur J. Gallagher Insurance Brokers Limited} Blenheim House, 1-2 Bridge Street Guildford GU14RY (from 1 St of May 2023). Arrol ArGhitecls Ltd, Sl. Mary's Hall, St. Mary's Court, Shrewsbury, SY1 1EG Lloyds Bank, Pride Hill, Shrewsbury SY1 1DG and Architect Bankers Investment EFG Harris Allday, 33 Great Charfes Street, Bimiingham B3 3JN Managers Independent Jonathan Hill Lichfield Diocesan Board of Finance, Examiner St Marys House, The Close, Lichfield WS13 7LD Page 4 Fa1TH IIIwopE
Ob'ectives and Activities As a PCC- and across our ministry and mission at Trinity- we remain committed to working out our vision of "growing faith, proclaiming hope and living the love of Jesus.. The PCC is committed to enabling as many people as possible to worship at our church and lo become part ofour parish community at Meole Brace, Radbrook Green, the town ofshrewsbury and beyond. The PCC maintains an overview of worship throughout the parish. and works with the staff team and other leaders in developing and delivering our shared vision of "growing faith, proclaiming hope and living the love of Jesus." On Sundays we do this as we gather together to worship, whether in person or online. During the week- in our Monday to Saturday lives- we do this wherever we are, on the 'frontlines' of our lives as well as in some of the more obvious gathering places of Café Connect, the Trinity Centre, the Meet Place, Radbrook Community Cenlre. local schools, residential homes and many other places. The trustees of the PCC are aware of the Charity Commission's guidance on public benefit in The Advancement of Religion for thè Public Benefil and have had regard to it in their administration of the Charity. The trustees believe that, by promoting the work of the Church of England in the Ecclesiastical Parish of Meole Brace it helps lo promote the whole mission of the Church (pastoral, evangelistic, social and ecumenical) more effectively, within the Ecclesiastical Parish. and that in doing so it provides a benefit to the public by.. Providing facilities for public worship, pastoral care and spiritual, moral and intellectual development. both for its members and for anyone who wishe5 to benefit from what the Church offers,. and Promoting Christian values and sèrvice by members of the Church in and to their communities, lo the benefit of individuals and society as a whole. Review of the Year The narrative reports presented at the APCM will give a fuller picture of some of the features of 2023. As we look through the bi-monthly reports presented to PCC over the last twelve months, some of the common features include.. A deepening prayer life. Over the year we continued to find different ways to be encouraging and equipping people in the journey of prayer. More regular monthly gatherings were held for our work with children J youth as well as for work on the Meole Estate, coming alongside opportunities lo pray for Radbrook Green and for world mission. Advent 2023 saw a week of prayer with resources and opportunities to gather together, in addition to a weekly rhythm of prayer in Café Connect, the Trinity Centre and Meole Brace primary school. During the year we were reminded ofthe words of Bishop Jill Duff who said 'Beacons are fanned into f18me by prayer. There seems to be a patlem that when people pray then flames are lit." Children, youth and families. At Trinily we place a high priority on all ages of life and stages of faith Iravelling together, being 'God's amazing family" as we have often described it. The Children and Families Minister and our new pre-school worker seek to to equip and encourage many others in building faith with children and youth, and both on Sundays and midweek we sought to help younger generations experience and grow faith for themselves. Work with Toddler Groups, Messy church and the older youth feel particularly strategic, alongside th8 important partnership we share with Meole Brace Church of England Primary School and Nursery. Over these next few months we expect progress towards the appointment of a more substantive youth work role. Sharing Faith. Over the course of 2023 we ran an Alpha course and a number of other midweek groups, both in person and onlinè. For some small groups continue to play an Page 5 FATh DHOPÈ LVVE
important role in equipping and encouraging people's spiritual life, and as we look ahead to 2024 and beyond we would want to find ways to encourage more people to have opportunities to join one. We were pleased to have a confirmation setvice in the summer, and to see young people and young adults go deeper in faith. Community Ministry remains an important part of our work, this year particularly focussed on the Meole Estate and Radbrook Green. Our longstanding inveslment in work on the Meole Estate continues, partnering with Shrewsbury Food Hub, the Town Council and others in building up the life of those who live locally. Holiday at Home- including the now-legendary trip to Barmouth- went very well over the summer, as did the summer'fun in the sun. socials. As part of our regular pastoral work we continue to visit a number of residential homes in the parish. including the new homes which have opened recently on the Oteley Road. 'Blessed to be a Blessing" fund continued its work of seeking to support people, families and projects during the cost of living crisis. We were able to work in partnership with local schools in particular at Christrnas. and find ways of demonstrating 'hands on, and much needed support at a time when some are still struggling. The work of the Trinity Centre. Hospitality remains very much at the core of who we are and how we do life, and recognising how much of Jesus, teaching seemed to happen over a meal table we continue to find ways of developing mission and ministry around a generous welcome. Current bookings appear strong, and we are particularly pleased to have a wide range of groups and activities taking place on a week-by-week basis. Current issues on the 'lo do pile" for the Trinity Centre Management Committee include improving our welcome and the lobby area, a 'lost cost. wedding package. and supporting the amazing work of welcome assistants. Café Connect. Time during the year was spent reviewing the work of Café Connect, now twenty years old. We began to look at its effectiveness missionally, as well as the financial realities of running a small commercial café in very tough trading conditions. The PCC continue to support the ongoing work of the Café financially. and the need for growing t8am and encouraging more volunteers is pressing. This will remain on the forefront of PCC agendas for the next year. Safeguarding. Every child, young person and adult has the right to be safe when engaging with God's church. We exercised this important responsibility by discussing safeguarding at every PCC meeting, and keeping up to date with the DI0$an and national regulations which seek the safeguarding of all children and vulnerable adults. In all of this we are aware that safeguarding is God's agenda and everyone's responsibility. Holy Trinity Belle Vue. It is now nearly four years since we began to offer a supportive oversight to the life of Holy Trinity Belle Vue, our neighbouring parish. During the year Bishop Sarah {Shrewsbury) spoke to both PCCS about the direction of travel, and how this ongoing partnership might develop from herè. No decisions have been made about the shape ofthis moving forward, but we are aware that thi5 will remain an item for discernment and discussion over the next 12 months for both PCCS and the wider church families. Living in Lov• and Faith. During the year the Church of England Synod commended prayers which could be used in regular Sunday and weekday services to ask for Gd's blessing on same sex couples. These are not yet to be used for special standalone services, though that is very much part of ongoing discussion and debate. This decision was taken with a c60140 split in the house of Bishops, and an even tighter split in the November General synod discussions. We continue to monitor the impact of this national decision al a local level. Decision to use the prayers or not in Meole Brace parish can only happen at the discretion of the "minister with the cure of souls. which the vicar Garries. The Glebe Field continued to be on the agenda of both the PCC and the °glebe committee" We recognised that some ofthe plans would involve significant finance which we do not Page 6 FIITH DHOPF LOVS
presently have. The vision for the field remains as a 'community amenity, sustainably managed, and where people can enjoy and engage with God's creation.. In no way tying the hands of future PCCS, for the time being we will not deliver large-scale landscaping, but instead support short-lerm and lower cost programmes of tree planling, hedge maintenance and mowing to care for the field and its future uses. We aim to put pedestrian gates into the field to enable people to ac$$ and enjoy Ihe field. There will also be a separate working group to examine the oplions for sustainable energy generation from the field. Mission, Relief and Development. We want to be a generous church and find ways of supporting God's work locally and further afield. It is such a privilege to pray, to get informed, and to join in alongside a number of different projecls. Each year we also give away at least 1 OOA of our freewill income, which enables us to give over £25,000 lo partner organisations through our Mission, Relief and Development Committee {MRDC}. The Staff toam continue to work together to 8qUlP the whole people of God in 'growing faith, proclaiming hope and living the love of Jesus.. The ministry leaders team meet weekly, and the church office team serve so ably from the heart ofthe Trinily Centre. We are particularly encouraged by new and younger welcome assislants joining the team, though there was particular sadness during the year at the death of Mike Hinton who had been such an integral part of the Trinity Centre team for many years. As always I would want to pay tribute to colleagues on the PCC and staff team for hard work and perseverance over the lasl iwelve months. We are hugely grateful. During autumn 2023 we looked at the book of N8hemiah in our morning services, which gave a renewed opportunity to dIsr once more what God might be calling us to 'build' in this season of the life oflhe church. This grew into what was called the"Dream Team" in spring 2024, and we look forward to reporting back progress on values and vision at this year's APCM. Revd Phil Cansdale (Vicar) 2023 Finances Lookin Back In 2023 the PCC had an unrestricted surplus of £11 k (2022 a surplus of £2kl. with our income being £414k and expenditure, including transfers, of £402k. Given some significant pressures and the general financial climate at the moment, we are so grateful to God for the generosity of so many towards ministry and mission here. See the table below for the summary. In terms of our income.. The"Blessed to be a Blessing. stewardship campaign was generously supported by many. with an increase in giving of £39k and £14k being added lo the Cost of Living Fund Increased bookings in the Trinity Centre improved its incorne by 12% to £79k. Looking at our expenditure.. The largest increase in expenditure was in premises wsts with utility costs doubling from last year and increased repairs and maintenance, mainly for the church building. Included in the £50,000 was a designated £19.000, made up of £8,000 for masonry repairs and an additional £11,000 to top-up the sinking fund to the £46,184, of which £38,000 is needed to replace the church boiler. The saving in salaries came from not yet having a youth minister in post whilst the PCC go through the process of making a suitable appointment. The costs of Ihe Trinity Centre increased to support the additional booking plus repairs and maintenance including a new boiler. Café Connect continued to need casmow support lo remain open. Page 7 FAtrH DMOPE
2024 Finances Lookin Forward Income is forecast to stay level with 2023 wilh the exception of the Trinity Centre where bookings are predicted to continue to increase. Looking at other costs and budget assumptions.. Utility costs will rise but we now have renewed contracts in place, so they are controllable. Salary costs will grow with the cost of living, and staff increases will be due to the pre- school worker appointment in January 2023 and the hope that a new youth minister will begin in the autumn. The diocese are looking for a small increase to the common fund, which we will pay in full along with a contribution lo support HTBV. Admin costs will increase, mainly for additional ITlwebsite costs. Any ongoing Café Connect support will now come from its part ofthe Living Stones fund (approval has been sart from the Charities Commission as this is a slightly different application of the fund). Taken as whole this should leave a small surplus for the year. 2024 2023 Forecast Actual £OOO's £OOO's 2022 Actual £OOO's Trinl Churches INCOME Member Givin Tax Reclaim Grant Income Weddin and Funeral Fees Trinit Centre and Hos other Income Total Income 246 52 247 48 223 57 net 12 89 20 424 17 79 10 71 414 373 EXPENDITURE Administration Children and Youn Peo le Evan elism and S ecial Events Common Fund IParish Share Minisl Ex Premises Total Salaries Tithe Trinit Centre Ex Su ort For Café Connect Total Ex enditure 27 21 22 97 93 103 enses 46 107 30 91 50 92 26 97 10 402 17 112 26 62 excludin Trini Clr enses 414 356 Sur lusl Deficit 10 11 17 Note= the table is a useful Sltmmary of the actual income and expenditure for 2023 compared to a forecast for 2024. Th858 figures are for our everyday activitie5 and do not include deslgnated or restrirted income and expendlture. such as disbursements from the PatWedg• le9aGy and galns and losses on finstments. Full •xamln8d ststlrtory finanrAal accounts aro attached In th8 fullef reporL John Mowbray (Hon Treasurer) Pa9e 8 FAIYH FIHtsPt
Resenies Polic The PCC aims to keep a minimum of 3 months running costs as working capital, approximately £95,716 (2022.. £89,012). At the year-end, unrestricted reserves stood at £177,476 (2022.. £166.341). This means that there are funds available which we are able lo invest in capital and mission projects that are being discussed at the moment. Funds are also set aside in designated reserves for new Mission and Minislry initiatives to help the work of the Church to continue and grow. Our reserves ar8 sufficient to sustain all cuent Church activities in Ihe short term. Related Parties Donations from related parties (PCC members) during the year were £24,43012022 £16,392). Fundraisin The PCC takes it fundraising responsibilities seriously and is very grateful to all donors - whether regular or occasional - for their support of the church and church events. PCC supporters are never taken for granted. The PCC take full responsibility for fundraising and do not use commercial organisalions or professional fundraisers. All money raised is either by donations, fundraising events. special appeals or legacies for which the PCC are mosi grateful. Following a discussion in 2020 we relain our current PCC decision that we would not apply for lottery funding. Risk Mana ement The Church Wardens carry out regular Health and Safety Reviews and regularly inspect premises for potential hazards. We have safeguarding policies in place for child proleclion and for work with vulnerable adults, including rigorous DBS checking of staff and volunteers. Our insurances are reviewed annually to ensure adequate cover. An informal review of any new risks which may impact the work of the Church in the Parish is ongoing. Safe uardin The PCC believe they have fulfilled their duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty lo have due regard to House of Bishops, guidance on safeguarding children and vulnerable adults). Safeguarding is a standing item on every PCC agenda. This Annual Report ¥vas approved by the PCC on 12th May 2024 andsigned on their behalf by.. Reyd Phil Cansdale (Vicar) Paul Bell (PCC Lay Wicevchair) Page 9 DHopt
Independent Examiner's Report to the trusteeslmembers of the PCC of Holy Trinity Church, Meole Brace, Shrewsbury. Registered Charity number 1135066 I report on the accounts for the year ended 31st December 2023 which are set out on the following pages. Res ective ros onsibilities of the Trustees and Inde endent Examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for thi5 year under Section 144 of the Charities Act 2011 (the Charities Act) that an independeni examination is needed. It is my responslbility to examine the accounts under section 145 of the Charities Att, to follow the procedures laid down in the General Directions given by the Charity Commission (under section 14515llbl of the Charities Act), and to state whether particular matters have come to my atiention. Basis of Inde endent Examlnerfs Statement My examination was carried out in accordance with the General Directions given by the Charity Cornmi5sion. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those reco¥ds. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be reguired in an audit, and consequently no opinion is givèn as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the 5taternent below. Inde endent Examiner's statement In connection with my exarnination, no material rnatter5 have come to my attention which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Charities Art or the accounts do not accord with the accounting records the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2LK)8 other th3n any requirement that the accounts give a true and fair view which is not a mattèr considered as part of an independent examination. I have come across no other matters in connectlon with the exarnirbation to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Slgned.. Date.. 41bi12è24. Jonathan Hill FCMA. CGMA Lichfield Dioeesan Board of Finance St Mary's House, The Close, knchfield WS13 7LD Page 10 SILO
Th? PCC ofHdyTrfnlty Curch, Mgole 8r4¢8. Shrewsbury Flmath¢lal Statern•nts fortY1•r ETrded 31st December2023 Stal¢m8ntof Financlal Actlv5tl•s Unr•stri¢ted Funds Designate Funds R•stricted Funds EndowmenL% Fund¥ Tot•1 Funds 2023 Tctal Funds 2022 In¢oming Resourcag Income and Enoowrnents frorn.. 317.445 298 018 AOsT¢1G0ra•9Fr 2b 7.790 103 173 rcnAdvtsS 103173 ¢r 2e T¢)tsl 413.690 14.718 428.408 363,463 Rso¥r¢es Expendqd Expendllure on.. Raising Funds Church Activi$ other 3b Total 582.868 7,863 13.1 403.894 393,248 NÈt In¢(TrjnWIEXpendure} lJeFore investment gainsiifos5esl N¢igain111055e51 on InsiMni$ i 30,824 505 13.1 24.514 9.785 4.2821 Net InCrellExp0nOUr•l 8.85S 24,009 14.067 Transfer bety¥een Funds 119.184 Net Mov•m•nt lth FuTrJs 26,039 13.185 24.009 114.OB71 rotal Funds bTQUghtforward 166.341 105.E31 100.374 372,546 3e6.813 Total Funds tarrl8d fornard 177.476 87.309 3%,555 372.546 PuBe11
The PCC of Holy Trinity Church, Meole 8race, Shrebvsbury Flnanclal Statements for the Year Ended 31st December 2023 Balon¢é Sheet Total 2023 Total 2022 Fjyed Assets T4ngibleAk9ets InvstrrWrtA5S&ts S6.86i 5£,865 57.370 57,370 Totol Flxed Agget9 Current Assets Debtors mÈyments Ca$h atbank ani ITr hBno 31,957 309.265 347,221 43.913 281.917 325.831 Total Cvrr•ntA8¥•ts Current LlalNlitles. due within l year CT•ditDrs and accrnal$ 10.855 Ehace¥an Paiiih Sher OGEsan L Totsi ¢uir•nt LkAklllltlg 12,316 10,655 Nvt currpntA%s•tsllLlablDSI 334,905 31S,176 Dgbtors du aftsr ono year Debto(S 4785 4,785 Lrtbilities due after one year Total N•t A$$vlsllLl#bllKI 396,555 372.54 Total 2023 Tot812022 Funds of the PCC Unlostye0 Funts Genetsi Fund 177.476 166.341 Oegnakd 131 870 105.831 100.37: 87.2(YJ Endrn&t Funds Total pund& 396,5$3 372,546 ApwovedDytht Par01¥1 Chth cou1 on. .s 2024 ind n lis hhlOy'. Name The Revd Pnitsca1e Ipcc Chai0) Th$ noieson Pèiès 13 to 24 torm partofthBi8accounL% P4e 12
The PCC of Holy Trinity Church, Meole Brace, Shrewsbury Financial Statements for the Year Ended 31st De¢ember 2023 Accountln Policies The PCC is a public benefit entity within the meaning of FRS 102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCS, and with the Regulations true and fair view" provisions. They have also been prepared in accordan with the Charities SORP (FRS 102}. The financial statements have been prepared under the historical cost convention th items recognised at cost or transaction value unless other)Nise slated in the relevant notes to these accounts. The financial statements inclLrde all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members. There may be minor discrepancies in the totsls as the pen¢e are not being shown. Cashflow Statement The Charity has taken advantage of the exemption in FRS102 from the requirement to produce a Cash Flow statement on the grounds that the income does not exceed £500.000. Goin Concern There are no material uncertaints'es related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern. Accountin Estimates and Prior Year Errors No changes to accounting estimates have occurred in the reporting period. No material prior year errors have been identified in the reporting period. Descri tion of Funds Unrestricted funds are income funds of the PCC that are available for spending on the general purposes of the PCC. including amounts designated by the PCC for fixed assets for its own use or for spending on a future project and which are therefore not included in its "free reserves as disclosed in the trustees, annual report. Restrlcted funds comprise of elements :_ al income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the Irust or bequest b) donations or grants received for a specific object or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be Carried forward as a balance on that fund. The PCC does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis. Page 13 DwJpE AILtr
Accountin Policies continued Endowrnent funds are restricted funds that must be retained as trust capital either permanently or subject to a discretionary power to spend capital as income, and where the use of any income or other benefit derived from the capital may be restricted or unrestricted. Full details of all their restrictions are shown in the notes to the accounts. Income Planned giving, collections and donations are recognised when received or when the PCC becomes entitled to the resource and the monetary value can be measured with sufficient reliability. Tax refunds are recognised when the incoming resource to which they relate is reived. Grants and Legacies are accounted for when the PCC is legally entitled to the amounts due and the monetary value can be measured with sufficient reliability. Dividends are accounted for when receivable, interest is accrued. All other income is recognised when it is receivable. All incoming resources are accounted for gross. enditure Grants and donations are accounted for when paid over, or when awarded. if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when due. Amounts received specifically for mission are dealt with as restricted funds. All othèr expenditure is generally recognised when it is incurred and is accounted for gross. Governance and Su ort Costs Support costs should be allocated b&een govemance costs and other support. Governan costs comprisè all costs involving public accountability of the PCC and its Complian with regulation and good practice. Support costs include central functions and have been allocated to activity Gost categories on a basis consistent with the use of resources eg by allocating staff costs by time spent and other cosls by their usage. Fixed Assets Consecrated and benefice property is not included from the accounts by s.10(2}(a)&(Cl of the Charities Act 2011. Moveable church furnishings held by the Vicar and Chur¢hwardens on special trust for the PCC and which require a faculty for disposal are inalienable property, listed in the Church's inventory, which can be inspected {at any reasonable time). For anything acquired prior to 2000 there is insufficient cost information available and therefore such assets are not valued in the financial ststements. See Note 7 about the properties owned by the PCC. Investments Investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at market value at the year end. Investments held for re-sale are treated as current asset investments. Page 14 Ow+l
Accountin Policies continued Debtors Deblors are measured on initial recognition at settlement amount. Subsequently they are measured at cash expected to be reived. Creditors and Accruals Creditors are measured at settlement amounts less any trade discounts. Accruals are measured on best ests'mate of the amount required to settle the obligation at the reporting date. Page 15
The PCC of Holy Trinity Church. Meole Brace, Shrewsbury Financial Ststements for the Year Ended 31st December 2023 UniestriCt•d Fund5 Doslyn¥¢ed Fwidg R•strkted Fund* Endowment Funds ToiAI Funds 2023 Totil FuNf5 2022 INCOME AND ENDOWMENTS 2 onatfon8 and L•gael¢s Volunlaryln¢ome Tax efficient planned giving 2a 191.937 191.937 191.341 Oiherplanned givlng 42.317 14.718 57.035 28,007 Collectlons at semces All olhergiving and voluntary reip1S includlng special appeals 8,908 8,908 8.284 3.930 3.930 6,850 ft Ahj Recoverab 47,984 47,984 56.535 Legacie5 Gran15 Irewrring 8nd orÈ-off) 7.650 7.650 5,0 302,726 14,718 317,445 296,018 ¢harltable A¢tfjvltlas Acrivlties ffor Generaling Funds 2b Fundrai%ing Aclivibes Page 16
The PCC of Holy TTinity Church, Meole Brace, Shrewsbury Financial Statements for the Year Ended 31st December 2023 INCOME AND ENDOWMENTS continued Unrtrtstrictvd Fundg DBsignated Fund¥ Re9Mcted Funds Endov•Tnent Funds Total Funds 2023 Total Funds 2022 Incomo from Inv95tm8nts 2c DivK4end5 3.588 3,588 2.907 Bank Inte81 4.202 4.202 7g6 7.790 7,790 3,703 Incomè from Church AcUvlt108 2d Slalutory Fees Irelained by PCCI 16,551 16,551 9,7( Church Hi 1.4S3 1.463 2,197 Rent 3.575 3.S75 Churchy4rd Contract 2,137 2,137 1.940 Trnity Centre Income 79.055 79.055 70.563 Other IradiTrJ aCtileS 392 392 16641 103.173 103,173 83,742 Other Irtcome Other Totsl Inwme 413.690 14,718 42B,408 383,463 Page 17
Th• PCC of Holy Tr5nlty Church, Meole Brace. Shrew5bury Finan¢ial Statements for th Yoar Ended 31st De¢ember 2023 Unr•strt¢l•d Fund Do4lgn&tid Fur Endowmvnt Fund Tr¢ Fund 2013 ToLIl Fuhds 2Q7Z Fund EXPENDITURE R4l#in9 Fund• Costs G•nernrinyFund8 CoèiB tsf Fun¢ Rais haritabl• Aclvltleg Jb ChuF¢hAcbviles Griiw and lnatn$ 25.500 7.8e3 10.000 43,363 59.59S (¢9 CommoTr Fund ¥3209 93.2(rf IT3.20Y DrE$an Common Fund &JppDrt $an0$and Wages 91.736 91.736 1Q8.902 Clergya siaff Expen2eg 5.568 5.568 4,994 CtsUh E¥pffnx Churth EXnee9 7.100 7,109 6.372 ChLYth Runnirwj Expense811rt1 3S.348 150 3S,4 35.018 Church Utslity &lls 8.574 8.574 CoBt of TradlNJ ltaa0a2ry. bwbtsllekl 10.466 1,269 5,236 TnTrtyC4nlre IlKI1n9 sa15) 97.25 1.746 99.004 62.939 IlaJ0rCal4IExP•ndrtUr? aprRepait¥ to ChJr¢h klajoi Re1[3 lo church HaVProp&ty 8.098 8,098 795 Bullding Wotk 382.866 7.863 13,166 405,894 393,248 ¢Xh•r Expgndftvre Tot41 Exp•ndilur• 382.866 7,8£3 403.e94 393,248 Page18 AIL¢Tr*
The PCC of Holy Trinity Church, Meole Brace, Shrewsbury Financial Statements for the Year Ended 31st December 2023 Allocation of Support Costs Support Costs comprise Trustee Training and Governan Costs etc. Due to the nature ol the financial activitie5 of th8 PCC. these woukl l allocated aGross Charitable Expènditurè which comprises the majority of its expenditure and as 5ych ale automats"cally chargèd there. S (al Staff Costs 2023 2022 Wages & S?laries National Insuranc& Pension costs £157.269 £8,793 £2.805 £145,970 £9.125 £2.231 Average nUrnr of èmployees 17 16 The PCC ernployed a part-time Youth Minister lup to the 7th of April 20231. lull-time Childn.$ Minister and Pioneer Community Minister Icurrently a job share). The Church Office tèam is made up of the Operats"ons Manager, Adrninistrator & Events Coordinator and Finance Clerk, whilst the Trinity Centre is overseen by the Events Manager and t8am of W81cornè Assistants. The PCC also employs a Verger, Garder and a Maintenance Officer lup to the 5th of Decèmber 20231 in part-lime roles. The vicar and associate vicar are employed by the Di0Se of Lichfield under Common Tenure, and the parish contributes towards these posts through Its eommon fund. The Operations Manager employed by the PCC 15 also a truslee having beett co-opted at the APCM in May 2022 and May 2023. The highest paid employee earned £31,06512022.. £28,759) during the year. There were no ernployee benefits to key management peisonnal in thè pravious or current year. The PCC uses the National Employment Savings Trust INESTI for its p8non paymènts. 5 Ibl Trustees. remuneration and expenses and Related Parties Kevin Pilsbury. a trustee, was paid £31.065 Igrossl remuneiation during tha ar In hls role as Operations Manager. The PCC made employer pension contribtion$ and Nl conlribution5 01 £0 and £2,664 respectively in connecl'on with thB ernployment. Kevin Pilsbury leave5 the meeting when the art any PCC discussions in connection with his employrnent. 3 trustees were paKI £3,06012022.' £1.4241 in respect of tra1, subsistènce. an¢J telephone charges during the year. No othèr payments or expenses w6rè paid to any other PCC rnember, persons dosely connedad to thetn or related parties. Donab'ons from relat&d parties IPCC rnembersl totalled £24,43012022'. £18,392). S Icl Fees for the examination of the accounts 2023 2022 Indapendent Examinerfs feès £350 £300 Other fee5 le.g. accountancy services) paid lo the Independènt Examiner Analy$i$ of Transfer between Funds £19,184 allocated to th8 De%gnatsd Sinking Fund forthe replaCEnt ol church heating boilers and m88onry work12022'. £6.0001 40
The PCC of Holy Trinity Church, Meole Brace, Shrewsbury Financial Statements for the Year Ended 31 st December 2023 7 {al Tangible Fixed Assets The PCC own the Trinity Cantre Iwithin the curtilage of Holy Tiinityl as well as the Glebè Field and 47 Wildefley CSnt. The values of these properties are not included in the balance Sheet at value, the c05t being zero. Pkase sea tho note in the Trustees Annual Report on page 3. 7 {bl Fixed Asset Investments At 1st Jan AdditSons Di5P05a15 Transfers Change in MarkeE Value £ At 31st Dec Unr•stsiet•d funds Investments. 57.370 15051 56,865 Total 57,370 15051 56.86S '3,904 M&G Charitable Unils at Merket Value 31st December, managedby EFG Hams Allday Assets 2023 2022 8 {al Current Debtors Unrestricted Gift Aid recoverable 25,863 36,405 Accrued income 1.847 804 Trade debtors 10.246 1,426 Other debtors Icafé Conn8ct CICI 5.278 37,957 43.913 8 Ib} Debtors dues after more than 1 year Restrictod Other debtors ICaf8 Connect CICI 4.785 Total debtors 42,742 43,913 8 Icl Cash at Bank and On Hand- 2023 Unrestrlcted Dosignat8d Restrlcted 2023 Totsl 2022 CunEnt Account 17,008 17,008 55,805 Instant Acts5S 67,378 84,058 76,542 227.978 165,075 Pèty Cash 198 198 20 Trlnity Cantre Bank *c Interioi Decorating Scheme CBF Deposit (Hilda HardirKJl 1,987 1.987 670 5,882 5.882 5,882 8,399 47.812 56,211 54,465 94.971 131,870 82.424 309,265 281,917 Paoe 20
The PCC of Holy Trinity Church, Meole Brace, Shrewsbury Financial Ststernents for the Year Ended 31st December 2023 Cash at Bankand On Hand- 2022 Urtrestrietsd Designatèd Restrietèd 2022 Total 2021 cur1 Account 55.805 55,805 7,170 Instant Access 12,564 58,019 94,492 165,075 230,986 Petty Cash Trinity Centre Bank alc Interior Decorating Scheme C8F D8posit IHiPJa Harding) 20 20 20 670 670 1,220 5.882 5,882 5.882 6.653 47.812 54.465 53.758 75.712 105.831 100,374 281.917 299,036 Llabllltles 2023 2022 All unrestricted 9 {al Amunts falllng due in one year Awruals 350 4.203 Amounts ReiVed in Advan 1,096 10,870 1,547 4,905 other Credftors 12,316 10,655 9 {bl Amounts falllng due after one year None 10 Summary of Assets by Fund- 2023 Unr•strictod Funds Deslgnated Funds Restrlcted Funds Enilowment Funds Total Inv6stsnent Assets 56,865 132.927 112.3161 177,476 56.865 352.006 112.3161 396,555 CurrentAssets Current Liabilities 131,870 87.209 131,870 87,209 Summary of Assets by Fund - 2022 Unre5tr1¢tsd Fund¥ Dgsignated Funds R8strict8d Funds Endowment Funds Total Investsnent Assets Current Assets Current Liabllitles 57.370 119,625 110.6541 166,341 57,370 325,830 110,6541 372.546 105,831 100,374 105,831 100,374
The PCC of Holy Trinity Church, Meole Brace, Shrewsbury Financial Statements for the Year Ended 31st December 2023 11 Summary of Fund Movements- 2023 Reserves at 1stJan Incoming Resovrcts Resources Expended Investment GainslLosses Transfers Reserves at 31stDec £ Unrestrictad Fund 166.341 413,690 1382,8661 15051 119,1841 177,476 DeS8d Funds School House Fund 5,703 5.703 2021 VisionlLlvlng Stones Clergy Discretionary Cost of Living Fund Sinking Fund Glebe FYaldlHild8 Harding 22,500 1.685 22,500 1.685 14.718 17,8631 7,986 27,000 19,184 46,184 47.812 47,812 105,831 14,718 17.8631 19,184 131,870 Restricted Funds Fiwila Partnership Café Conngct 24,002 10,000 14,2 5,278 14931 4.785 Meole Bra Youth Club 1.968 1.968 Social Acts'on 2.294 2,294 ChT151rnas Hampers Sundry Restricted Récèipts Living Stones CTK Piano Fund 93 93 18,189 1701 18,119 36,813 37.389 17761 1801 80 Trinty Centre Kitchan Equip Interfor Decorating Scheme 5.199 11.7461 3,453 5.882 5,882 100,374 113,1651 87.209 Endowment FurKIs Totsl Funds 372,546 428,408 1403,8941 15051 396,555 ??
The PCC of Holy Trinity Church, Meole Brace, Shrewsbury Financial Ststements for the Year Ended 31st December 2023 Explanatory not• on •ach fund- Deslgnatedfund$." School House Fund 2021 VisionlLiving Stones C18rgy Discr&tionary Cost ol Living Fund Sinking Fund Glebe FieldlHilda HardSng Proceeds from the sale of the School House, for future upkeep of property. Seed fund for the Living Stones PTojeds. Residue of a gift, used al the clergys discretion. Discretionary fund to help with cost of living crises Trinity Centre and Church contingency fund. Desigaled in 2022 for new boilers. Net proceeds from land swap with the Diocese. Held for future projects that honour the legacy. Restrlcted funds.- Fiwila Partnership Café Connect Meole Brace Youth Club Socjal Action Legacy to be used for Children's education in Africa. Surplus from the project held on behalf of Community Interest Company. Grants reiVed for use in the community. Previouly held by Meole Brace Consolid81ed Charities for use by the poor of the Parish. Lfvlng Stones Funds raised in 2017. Two projects awaiting completion, the Meet Place and Café Connect. Donation lo fund a Piano al Christ the King Donations ft)r Hampers Christmas 2D20. Donation lo fund new kitchen equipment al the Trinity Centre Funds held by the diocese for the internal redecoration of the vicarages. CTK Pkqno FuThY Christmas Hampers Trinity Centre Kitchen Equip Interior Decorating Scheme Summary of Fund Movements- 2022 Re$erve$ at 1stJan Incomin9 Resourees Resources Expended Investment GainslLosses Transfers Reserves at 318t Oec £ Unrestricted Fund 159,336 373,333 1356,0481 14,2821 16,0001 166,341 Designated Funds School House Fund 2021 VisionlLiving Stones Clergy Discretionary Cost of VIng Fund sinkn.ng Fund Gl8bè FieldlHilda Harding 5,703 22,500 1,685 5.703 22,500 1.685 1,131 27,000 47,812 105,B31 3.063 11,9321 21,000 47.966 98,854 6,0(H) 11541 12,0861 3,063 6,000 Restricted Funds Fiwila Partnership Café Connèct Meole Bra Youth Club Soual Action Christmas Harnpers Sundry Restricted Rècèipts Lbving Stones CTK Piano Fund Tnnity Centre Kitchen Equip Interior Décorating Scheme 55.747 6.148 1,968 2,294 168 18,189 38,025 131.7451 18701 24.002 5,278 1.968 2.294 93 18,189 37.389 80 5.199 5,882 100,374 1751 1.200 705 6,031 11.8361 16251 18321 5,882 128,421 7,936 135,9831 Endowment Funds Total Funds 386.613 384,333 1394,1181 14,2821 372,546
The PCC of Holy Trinity Church, Meole Brace, Shrewsbury Flnancial Stat8ments for the Year Ended 31st December 2023 12 SOFA Comparatlves (previous year) Unrestrieted Funds Designated Funds Restricted Funds Endowmenl Funds Total Funds Incgme and Endowmgn¢8 Voluntary Incorne ActNities for Genèr8b'ng Funds Investments Church Actimties Other Total Incomo 285,019 3.063 7,936 296,018 3,703 84,612 3.703 83,742 18701 373,333 3,063 7,066 383,463 Expendlturg Church Activites Raising Funds Other Totsl Expendltur• 356,048 35,113 393,248 356.048 2,086 35,113 393,248 Net Ineomellexpenditurel 17,285 977 128.0471 19,7851 Net gainllh)ssesl on investment 14.2821 14.2821 Net In¢omellExpendltur•l 13,003 977 128,0471 114,0671 Transfer bebyeen Funds 16,0001 6,000 Net Movement In Funds 7.003 6,977 128,0471 114.0671 Total Funds brought forward 159,338 98,854 128.421 386.613 Total Funds ¢arrled fornard 166,341 105,831 100,374 372,546